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by **jo-miles** » Mon Feb 04, 2008 3:08 pm

Hi i'm due to come to Cyprus in August in August with my family and was wondering what everyone thinks to the euro? What are the prices like now compared to the Cypriot Pound we've been twice before and found prices quite resonable, we also got a better exchange rate out there. Whats the exchange rate for Euro's from British Pound?

by **purdey** » Mon Feb 04, 2008 3:16 pm

From a business point of view I love it.From a tourist point of view,I have heard some menus are still in CYP and they are rounding up,but very little seems clear at the moment.Euro £ exchange rate not so good i'm afraid...

by **jo-miles** » Mon Feb 04, 2008 3:18 pm

yea it's 1.30 euro to the pound over here at mo, still plenty of time before we come out there (too much time in fact well for me anyway)

by **cyprusgrump** » Mon Feb 04, 2008 3:19 pm

All restaurant menus have been dual-currency since September 1st.

Also, restaurants have to have the menu prices agreed by the CTO and cannot change process without re-registering the menu with the CTO.

Most large shops have rounded prices down.

by **purdey** » Mon Feb 04, 2008 3:36 pm

I will remember to tell Nicos he must quote Euros on his menu...So across the board are you saying it is cheaper ?

by **cyprusgrump** » Mon Feb 04, 2008 3:39 pm

purdey wrote:I will remember to tell Nicos he must quote Euros on his menu...So across the board are you saying it is cheaper ?

No, but restaurants haven’t become dearer and supermarkets have as I said rounded down which only makes a tiny difference…

There have been some increases in certain areas but overall I would say no real change that I’ve noticed…

by **purdey** » Mon Feb 04, 2008 3:45 pm

I have noticed a 15 % rise in importing goods in small quantities hence we have had to put prices up.I have saved money in other areas but I am still working on a 8% increase.This is been passed on to the consumer.

by **cyprusgrump** » Mon Feb 04, 2008 3:46 pm

purdey wrote:I have noticed a 15 % rise in importing goods in small quantities hence we have had to put prices up.I have saved money in other areas but I am still working on a 8% increase.This is been passed on to the consumer.

Importing goods from where?

by **purdey** » Mon Feb 04, 2008 3:50 pm

UK and America.

by **cyprusgrump** » Mon Feb 04, 2008 3:54 pm

purdey wrote:UK and America.

So the exchange rate has screwed you then?

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